Don't Let Your Emotions Get In The Way!
One of the very most important things when trading is to have full control of your emotions. We have all heard this 1000 times, and we all know (or should know) how important this is. Even though the UMT is a nearly completely emotionally free system, there will still be decisions that need to be made…when to stop for the day, should I adjust over the last swing high, should I lock in some profit now, etc. Keeping your emotions in check is just as important as having a solid strategy, as they very much go hand in hand. So what we've done is put together some things to think about before you take your first UMT trades. 1)You feel no pressure to do anything 2)You should have no feeling of fear (the UMT will be a big help with this one) 3)You feel no sense of rejection( again, you will feel more confident knowing your next will be around the corner) 4)There is no right or wrong 5)You recognize that this is what the market is telling me, so this is what I do (again the indicators will help you here as well) 6)You should observe the market from the perspective as if you were not in a position, even if you are 7)You are not focused on money, but on the structure of the market If you can see the above qualities in yourself, then you are on the right track. Remember you need to release yourself from the need to be right. To be successful, you don't always need to be right, but you always need to be objective. There is so much to be said on owning your emotions, in fact many books have been written on this topic alone, so this article could literally go on forever. Rather than doing that we'll leave you with a few more key points to think about before your next trades. One of the most common characteristics in successful traders is that they are goal oriented. This is when people tend to perform their best, because realize it or not, our subconscious helps us to achieve this goal. However, simple goal setting is not enough by itself. It must have three important characteristics that go with it. 1)Your goal must be realistic -- 2 wins and I quit on the day for example, not I need to make $10000 in 3 hours 2)Your goal must be attainable -- same idea, something you know you can do, not grasping as straws (I want to average $250-$500/day) 3)Your goal must be measurable -- you need to know if you are close by or far away, if they aren't measurable, you won't know how close you are to getting there Keep these key points in mind, and you'll be well on your way to a better start. Of course the UMT will offer you major advantages in helping you with a lot of this anyway, but you can always do more to help yourself as well.
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